Market Update

Japan’s Nikkei closed at its lowest level in two weeks on Wednesday, tracking Wall Street’s drop overnight, on fears of a global economic slowdown and the impact of the COVID-19 shutdown in China on domestic corporate results. The Nikkei index fell by 1.17 percent to close at 26,386.63 points, its …

The Japanese Yen recorded a substantial decline in trading today, Tuesday, and the major currencies were most affected by losses of about 1.59%, influenced by the Japanese prime minister’s statements earlier today. He stressed that his government prefers the weak Japanese yen. During his remarks on Tuesday, Japan’s new Prime …

Forex trade was again dominated by risk-off on Tuesday, with the safe-haven yen and US dollar’s outperforming, as US equities cratered. Investors and traders cited everything from economic and military tensions between Russia and the NATO to China lockdown risk and worsening global growth expectations in addition to the anticipated …

The USD/CAD pair is witnessing some signs of exhaustion after a bulldoze upside move from the previous week’s low at 1.2458. The asset has been scaling higher as negative market sentiment has been underpinning the safe-haven assets. While exhaustion signals at monthly highs of 1.2830 could be tagged to a …

Federal Reserve Governor Lael Brainard won confirmation in the US Senate on Tuesday to be the US central bank’s next vice chair, a week ahead of a key Fed meeting where policymakers are expected to ramp up their battle against inflation with a big interest-rate hike and the start of …

The USD/CHF pair has rallied for the third consecutive day and reached a 21-month high at 0.9626. However, as the Asian Pacific session begins, on Tuesday, the USD/CHF print modest losses of 0.06%, down from YTD highs, and is trading in the high 0.9610s.The market mood soared on the back …

Oil prices settled higher on Tuesday, rebounding in volatile trading environment as traders and investors weighed China’s plans to support its economy against a possible coronavirus lockdown in its capital Beijing.Brent crude futures settled up $2.67, or 2.6%, at $104.99 a barrel, while US West Texas Intermediate contracts were up …

A digital currency sanctioned by the Bank of Canada would likely come in a basic format and rely on private sector innovation to add capabilities, the central bank official overseeing research into a potential digital Canadian dollar told a U.K. cryptocurrency conference on Tuesday.BoC Deputy Governor Timothy Lane shared his …

Gold price was wavering in a minor range of $1,891.56-1,911.31 since Monday after an intense selloff had continued from Friday’s high at $1,955.71. The gold price is now stabilizing currently in a concise range but price action is favoring an extreme imbalance on the downside amid the rising US dollar …

Microsoft shares fell 1% in extended trading on Tuesday even though the software maker issued fiscal third-quarter earnings that exceeded analysts’ expectations.Microsoft beat expectations on the top and bottom lines. The company announced plans in the quarter to buy Activision Blizzard for almost $69 billion. Microsoft also beat EPS and …